Canoo furloughs workers and idle factory because it seeks money

EV startup Canoo is struggling He says It has furloughed 82 employees, and its Oklahoma plant has been idled as it scrambles to raise the capital needed to survive. The company claims it is in “advanced discussions with various capital sources” to raise emergency funding.

This announcement comes a few days after the resignation of board member James Chen, and approximately a month after the company resigned Witnessed the departure of the CFO and Chief Lawyer. He also confronts Kano Multiple lawsuits From suppliers regarding alleged late payments.

The new furloughs cap off what has been a difficult year for the startup. The company underwent multiple rounds of layoffs and furloughs, and closed the Los Angeles office that served as its headquarters. CTO at Canoo He left in AugustAll of the company’s founders have now passed away. In the meantime, it has been She stayed afloat through loans From the venture company managed by its CEO, Tony Aquila.

It’s not clear what Canoo was making at its Oklahoma facility before it decided to temporarily halt operations there. So far, the company has delivered electric trucks to NASA, USPS, Walmart and the Department of Defense for testing. But it has failed to achieve its broader ambitions of increasing manufacturing for other commercial clients.

In an unsigned statement, Cano said: “We regret having to furlough our employees, especially during the holidays, but we have no choice at this point. Hopefully we can get them back to work soon. Aquila did not immediately respond to a request for comment.